ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0015%/8h= −1.6% APRnext payment −$0.02 per $10,000 · paid last 24h +0.016%

Price spread now: Hibachi against Reya+0.079%7-day average +0.056% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.087%−$9 on $10k

Price spread, last 7 days−0.015%−$2 · spread now +0.079%, 7d avg +0.056%

Together, before fees−0.102%+ Points / potential airdropReya: Active · Hibachi: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hibachi is 0.023% dearer against Reya than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of +0.056%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 5.2 days. At the pace of the last 3 days (−0.087% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ETHRUSDPERP	2,769.8	0.0207	pay 0.0026% / 1h	57m 03s	$7.3M	$1.2M	25x
Short	Hibachi ETH/USDT-P	2,772	0.0192	get 0.0024% / 1h	57m 03s	$252K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee HibachibpOrdersPrice spread, now +0.079%Rate

Funding earned: −$3.07
Price spread: +0.079% → +0.056%: $2.27
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$15.8
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Hibachi: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Reya no order-book sample	—	—	—	—	—
Sell Hibachi live order book, 2 min ago	0.90 bp	5.4 bp −$5	11.1 bp −$111	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ETH/USDC PERP	−0.0752%	1h	2,771.6	+0.065%	$119K	$22.5M	52x	as long as short
Perpl ETH	−0.0223%	43m	2,769.7	−0.004%	$284K	$6.8M	8.3x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,770.8	+0.034%	$5.7M	$11.9M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771.1	+0.047%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0016%	1h	2,770.4	+0.021%	$168K	$1.2M	50x	as long as short
Bullet ETH-USD	−0.0015%	1h	2,770.3	+0.018%	$182K	$1.7M	20x	as long as short
SoDEX ETH-USD	−0.0014%	1h	2,770.3	+0.018%	$55.2M	$228.8M	40x	as long as short
ApeX Omni ETHUSDT	−0.0005%	1h	2,773.8	+0.144%	$8.7M	$32.9M	100x	as long as short
dYdX ETH-USD	0.0000%	1h	2,770.5	+0.026%	$12.7M	$45.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,771.4	+0.057%	$8.1M	$689.9M	4.9x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ETH	+0.0003%	1h	2,771.4	+0.057%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.5	+0.062%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,771.2	+0.051%	$1.71B	$11.80B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,771.2	+0.050%	$12.8M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0035%	1h	2,773.5	+0.133%	$29K	$22K	20x	as long as short
Aster ETHUSDT	+0.0036%	8h	2,771.2	+0.049%	$255.8M	$1.00B	200x	as long as short
Gate ETH_USDT	+0.0044%	8h	2,770.8	+0.036%	$3.29B	$8.88B	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,770.2	+0.014%	$5.0M	$320K	20x	as long as short
MEXC ETH_USDT	+0.0057%	8h	2,771	+0.043%	$1.61B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0057%	8h	2,771	+0.042%	$6.46B	$17.26B	150x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,771.4	+0.056%	$2.10B	$3.07B	150x	as long as short
KuCoin ETHUSDTM	+0.0080%	8h	2,770.6	+0.029%	$422.4M	$736.6M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,771.8	+0.072%	$60.8M	$4.58B	50x	as long as short
Deribit ETH-PERPETUAL	+0.0086%	1h	2,772.2	+0.085%	$259.1M	$221.7M	50x	as long as short
Vest ETH-PERP	+0.0096%	1h	2,770.7	+0.031%	—	$1.1M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,771.1	+0.045%	$115.1M	$455.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,771.9	+0.076%	$25.3M	$109.3M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,769.9	+0.004%	$15.9M	$10.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,770.3	+0.018%	$484K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,770.8	+0.035%	$14.4M	$118.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.5	+0.133%	$3.17B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.6	+0.028%	$31.2M	$319.4M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,771.4	+0.057%	$2.51B	$4.59B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,769.6	−0.008%	$2.8M	$17.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.4	+0.058%	$2.7M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.5	+0.026%	$170.6M	$266.1M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,771.1	+0.048%	—	$1.24B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772	+0.079%	$15.2M	$44.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,773.8	+0.145%	$151.5M	$345.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,774.3	+0.162%	$182.1M	$783.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776	+0.225%	$161.4M	$88.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.3	+0.054%	$21.4M	$58.5M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.3	+0.018%	$10.6M	$8.1M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,770.9	+0.038%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773	+0.115%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,769.6	−0.007%	$971K	$13.8M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,770.1	+0.011%	$1.08B	$1.31B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,770.2	+0.013%	$269.8M	$68.2M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.8	+0.035%	$32.5M	$78.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,770.6	+0.029%	—	$42.2M	500x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,771.8	+0.072%	$90.7M	$328.5M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0146%	8h	2,772.8	+0.109%	$32.6M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0177%	8h	2,770.6	+0.027%	$286.6M	$192.8M	150x	as long as short
Hibachi ETH/USDT-Pshort	+0.0192%	1h	2,772	+0.079%	$252K	$1.6M	20x
Reya ETHRUSDPERPlong	+0.0207%	1h	2,769.8	long leg	$7.3M	$1.2M	25x